Private Advisor Group LLC Decreases Stock Position in Aon plc (NYSE:AON)

Private Advisor Group LLC trimmed its holdings in shares of Aon plc (NYSE:AONFree Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,165 shares of the financial services provider’s stock after selling 219 shares during the period. Private Advisor Group LLC’s holdings in AON were worth $2,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AON. BKM Wealth Management LLC purchased a new position in AON in the 4th quarter worth about $25,000. Frazier Financial Advisors LLC purchased a new position in shares of AON during the fourth quarter valued at approximately $31,000. Rise Advisors LLC bought a new position in AON during the first quarter valued at approximately $37,000. Bruce G. Allen Investments LLC purchased a new stake in AON in the fourth quarter worth approximately $40,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in AON during the 4th quarter valued at $43,000. Institutional investors own 86.14% of the company’s stock.

AON Price Performance

AON stock opened at $298.04 on Tuesday. The company has a market capitalization of $64.80 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 1.96 and a beta of 0.91. Aon plc has a 1-year low of $268.06 and a 1-year high of $344.68. The business has a 50 day simple moving average of $288.99 and a two-hundred day simple moving average of $301.90.

AON (NYSE:AONGet Free Report) last posted its earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the business posted $5.17 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Aon plc will post 15.46 EPS for the current fiscal year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 0.91%. The ex-dividend date was Tuesday, April 30th. This is a boost from AON’s previous quarterly dividend of $0.62. AON’s dividend payout ratio (DPR) is currently 21.16%.

Insiders Place Their Bets

In other AON news, Director Lester B. Knight bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the acquisition, the director now owns 139,000 shares in the company, valued at approximately $38,448,790. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of AON in a report on Tuesday, June 18th. Piper Sandler dropped their price objective on shares of AON from $326.00 to $312.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Morgan Stanley upped their target price on shares of AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Citigroup initiated coverage on shares of AON in a research note on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price target on the stock. Finally, Bank of America cut AON from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, AON has a consensus rating of “Hold” and an average price target of $321.71.

Get Our Latest Research Report on AON

AON Profile

(Free Report)

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.

Further Reading

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Institutional Ownership by Quarter for AON (NYSE:AON)

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